Friday Update (Dec 4, 2020): Please take note that the risk appetite has been increased to aggressive (4/5) with the anticipation of GBPUSD trade volatility. Still eying one last potential entry at 1.37 😇
Critical Update: First potential losing month in a year and a half. GBP likely to continue up with a weakening USD and BoE not going negative rates. Hedging some of the losses with a long on EURUSD. Still believe a bearish trend will come long-term for both GBP and EUR (1-2 years). Will continue to swing trades while the long-term position holds. Waiting for Fed bank rates to begin raising again in 2022 (DXY likely back down to 88 or lower).
So that everyone knows, this account is a demo that is tied to a live account. Two reasons for this: 1) not a fan of connecting a live account to a third-party website, and 2) my broker doesn’t allow it anyway. The account you see is a 1:200, however, the live account is 1:7, which is why you never see this exceed that limit (I try to keep it no more than 3-5x leverage anyway, even when I’m being “aggressive”). The aggressiveness behind this account currently is because I am setting up for the Pound to crash, and I believe there is another crash in store for it in the coming year. If I’m wrong, I’m wrong, but this is the trade I’m currently in. I might use some of the additional leverage I have left to swing some Euro trades.
Agreed but let’s not forget that a demo account is the perfect solution when you want to learn about placing orders, working around with and configuring numerous charts for technical analysis, and the margin to be used depending on the leverage. Not to mention, cultivating patience.
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